Tourism-based heritage conservation in Murshidabad: an appraisal

The article appraises the outcome of promoting tourism as a strategy for heritage conservation in the case of Murshidabad, an archetypal historic town in decline in India. A relational maturity-based framework has been used to examine the complementarities and conflicts between tourism and heritage conservation in the town. The prevailing nature of tourism conservation relationship in Murshidabad upholds the criticality characteristically observed in developing countries, where governments focus primarily on the revenue generating potential of built-heritage centric tourism ignoring the conservation attention necessary to retain authenticity and meaningful existence of historic structures. The overarching issues emerging from the current level of relational maturity in Murshidabad are identified with suggestions for possible policy implications of the study.     

Archaeological heritage tourism in China: the case of the Daming Palace from the tourists' perspective

Archaeological heritage tourism has been critical in historic cultural revival, archaeological knowledge dissemination, environment upgrading, and local community improvement. Little has been undertaken to evaluate the effectiveness and consequences of archaeological heritage projects in China from the tourist perspective. This study of the Daming Palace Heritage Site in Xi’an illustrates how archaeological and cultural resources have contributed to tourists' experiences. Through investigating an array of approaches that have been applied to advance tourists' understanding of archaeological and cultural resources, the paper proposes that more versatile methods and creative works are to be integrated to develop effective interpretative methods for both education and entertainment purposes. Local government needs to change its top-down approach to a more inclusive one, to establish strong networks among state and non-state stakeholders, and to promote their collective involvement in archaeological heritage tourism. Heritage site packaging strategies and partnerships among heritage resources citywide are advocated. More attention should be given to how to integrate various resources of local communities into heritage tourism. The current organization of government-run archaeological heritage in China calls for more opportunities for archaeologists to contribute actively with their expertise to enhance interpretive programmes and general tourist experience.     

Ramshackle farmhouses,useless old stables,or irreplaceable cultural heritage? Local inhabitants’ perspectives on future uses of the Walser built heritage

Social and economic developments in rural regions call for a discussion of strategies of dealing with redundant traditional buildings. Using a social science approach, our study examines how the local population in two rural regions perceives the built heritage and which factors are underlying these perceptions. People’s attitudes towards maintaining the cultural heritage vary considerably and are partly influenced by the socio-cultural and economic context of the region. The present article discusses some of the core regional socio-cultural influences on attitudes towards the rural built heritage. Following from qualitative interviews, the article concludes that the scale of perception of the built heritage is related to the “liveliness” of the local culture: The more original and distinctive the local culture is, and the more the local economy is still based on agriculture, the wider the scale of perception of the traditional cultural landscape and built heritage. In a region with local traditions that are alive and followed in everyday life, and a local economy that is mainly based on agriculture, the entire settlement structure is perceived as cultural heritage. In such areas, alternative uses should be found for redundant buildings. In contrast, in regions where the culture is less visible and alive nowadays and where the local economy has changed, people tend to perceive single buildings as representing their cultural heritage, and they often wish to preserve and conserve such remaining houses, barns and stables. In the study, we show that from a social science point of view, there is no universal perception of the maintenance of built cultural heritage. Rather, we see different views and opinions that are important to consider when it comes to developing heritage protection strategies together with public authorities.     

Firm performance and corporate finance in New Zealand

Low productivity growth in New Zealand has been a paradox. We study New Zealand firms’ profitability, in terms of profit margin and return on assets (ROA), from the viewpoints of productivity enablers using firm-level panel data. We find that tangible fixed investment and a research and development (R&D) tax incentive are associated with higher profitability performance. In addition, the firm size is found to be a key determinant of profit margin. By contrast, we do not find any evidence that intangible investment can improve the profitability. The global financial crisis has not changed the leverage effect on ROA in New Zealand, while the impact of R&D became more prominent after the crisis.     

Fancy Bitcoin and conventional financial assets: Measuring market integration based on connectedness networks

We investigate the relationship between Bitcoin and conventional financial assets from a perspective on the connectedness of asset networks. We adopt the method of measuring connectedness proposed by Diebold and Yilmaz (2009, 2012, and 2014) in a VAR system to study the dynamic interdependence between returns in Bitcoin, stocks, oil, and gold. We find that the connectedness between bitcoin and conventional assets is weak. The separation of positive and negative returns in the Bitcoin market shows the existence of an asymmetric pattern of the spillover effects between Bitcoin and conventional assets. A rolling window analysis finds that although Bitcoin prices experience a rising link to other financial assets, the magnitude is proven to be moderate. However, connectedness via negative returns is much stronger than via positive ones and exhibits a clearly increasing trend in recent periods. Our results in application are generally robust to other popular cryptocurrencies, such as ETH and Ripple. The findings presented in this paper have important implications for financial market participants, policymakers, and researchers in light of projected increases in the adoption of Bitcoin, as well as the rapid development of cryptocurrency.     

Governmental Financial Reporting of Heritage Assets From a User Needs Perspective

The implementation of IPSASs in European Union countries and the harmonization of governmental financial reporting are intended to respond to the needs of citizens. An important characteristic of reforms to governmental accounting and financial reporting is the incorporation within the accounting systems of all public authority assets, which include the case of ‘heritage assets’. This paper investigates to what extent IPSAS 17 responds to user needs of governmental financial reporting about heritage assets by conducting a survey of mayors and councillors in the Italian local government.     

Tourism,heritage and politics: conflicts at the City of David,Jerusalem

This article analyses the development and progress of conflicts at the “City of David” heritage-tourism site in Jerusalem, Israel and the reciprocal relations between heritage sites and conflicts. It offers a comprehensive examination of the development of a major tourist attraction in Israel. Our research is based on the following two methods of qualitative research: (1) in-depth, semi-structured interviews with 43 key stakeholders; (2) textual analysis of current written materials and historical documents. The study investigates the relevant processes and decisions, stakeholder perceptions, the role of the archaeological excavations, and their relationship to the development of conflict. On a broader level, this study formulates a theoretical and practical framework for analysing the development of heritage tourism sites in conflict zones.     

Which financial stocks did short sellers target in the subprime crisis?

Tracing the SEC ban on the short selling of financial stocks in September 2008, this paper investigates whether such selling activity before the 2008 short ban reflected financial companies’ risk exposure in the subprime crisis. Evidence suggests that short sellers sold short stocks that had the greatest asset and insolvency risk exposures, and that the short selling of financial firms’ stocks was not significantly greater than that of non-financial firms after we match them on firm size and insolvency risk. When the short ban was in effect, the market quality of financial stocks without subprime assets exposure had deteriorated to a larger degree than that of financial companies with subprime assets exposure. The findings imply that such a regulation may mute the market disciplining effects of investors and may also be seen as a counterweight to any perceived macro or systemic risk reduction benefits resulting from such a ban.     

元阳旅游型村落控制性发展研究

通过梳理世界文化遗产区西递村的开发与保护经验,结合元阳发展的现状,对旅游型村落发展提出控制要素的研究。对于遗产区村落的开发,既是当地经济发展的需求,又是世界遗产保护的途径。控制好保护与发展之间的平衡点,利用旅游业带动当地村落的发展,通过要素进行发展中的控制是本文主要论证之处。